Updated Dec 21, 2023
TerraCRG Brokers Acquire Industrial Property In Red Hook For $8M
238 Conover Street, Brooklyn, New York 11231, United States
$8,000,000
$446/SF
Building Size
17,900 SF
Asset Type
Industrial
Closing
Sep 14, 2022
About this deal
AI
238 Conover St. in Red Hook has been sold for $8,000,000. The industrial property spans 17,900 square feet, resulting in a price per square foot of $446. The transaction was facilitated by TerraCRG, with brokers Dan Marks, Daniel Lebor, and Jackson O'Neill representing the parties involved.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $8,000,000
- Address: 238 Conover St.
- Market: Red Hook
- Square Footage: 17,900
- Price per Square Foot: $446
TerraCRG played a crucial role in the sale of 238 Conover St. Dan Marks, Daniel Lebor, and Jackson O'Neill served as the brokers representing the buyer and seller. The deal showcases the expertise and professionalism of TerraCRG in the industrial property market.
On the Map
$8,000,000
$446/SF
Industrial
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Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93